PRESS RELEASE

VAN KEKERIX RETIRES FROM UNITED BANK OF IOWA

Kenneth L. Van Kekerix, President and Chief Executive Officer (CEO) of Ida Grove Bancshares, Inc. and Chairman of the Board of United Bank of Iowa, is announcing his retirement effective May 31, 2023, after 36 years of service.

Van Kekerix started his career with United Bank of Iowa (formerly Ida County State Bank) in December, 1986, when he accepted the role of President. During his tenure, Van Kekerix served as Chairman of the Board, President and CEO of United Bank of Iowa, as well as President and CEO of Ida Grove Bancshares, Inc. In April, 2008, he stepped back from the day-to-day operations and transitioned to President and CEO of Ida Grove Bancshares, Inc. and Chairman of the Board of United Bank of Iowa, serving in this role for the past 15 years.

Throughout his career with United Bank of Iowa, Van Kekerix provided strong leadership, strategic vision, and expertise in lending and management. As a result of his strategic initiative, the bank entered many new markets and now has offices in 35 Western Iowa communities. In addition, the bank’s assets have grown to $2.3 billion, and the bank currently has 339 employees. A notable milestone during Van Kekerix’s career was the change of the bank’s name from Ida County State Bank to United Bank of Iowa in 1996, which allowed for the strategic expansion outside of Ida County. A second notable milestone was the recognition of United Bank of Iowa as Iowa’s #1 Agriculture Bank in 2004, which is an honor that has continued for the past 19 years. This honor highlights Van Kekerix’s passion for agriculture and his desire to serve Iowa farmers.

Van Kekerix commented, “I have sincerely enjoyed helping customers succeed and knowing the bank has played a role in that success. Our strong customer connections have also enabled us to generously give back to the communities we serve. The success of United Bank of Iowa is truly a team effort and I have been fortunate to work with a talented group of employees and a dedicated board of directors.”

Owen Bolte, former President and CEO of United Bank of Iowa, will replace Van Kekerix as Chairman of the Board of United Bank of Iowa and President and CEO of Ida Grove Bancshares, Inc., effective June 1, 2023. Bolte, who has a 32 year career with United Bank of Iowa, served as President and CEO of United Bank of Iowa from April, 2008, until May, 2022, when he announced his retirement. In addition, Bolte has served as a director for the past 22 years.

Van Kekerix commented, “United Bank of Iowa has a strong financial posture and is positioned to continue to thrive and grow into the future. I am confident that President and CEO Dan Dotzler and Chairman Bolte will provide a seamless transition. This leadership team is committed and equipped to carry forward United Bank of Iowa’s success.”

Van Kekerix’s plans for retirement include frequent trips with his wife, Lisa, including a much-anticipated trip to Israel this summer.  He also recently obtained his pilot’s license and enjoys flying whenever he has the opportunity. Ken and Lisa look forward to spending more time with their four grown children and their families, which includes twelve grandchildren with one more arriving in July.